Silver futures fall on weak overseas cues
Silver prices fell by Rs 96 to Rs 39,636 per kg in futures trade today as speculators trimmed exposure amid a weak trend in global markets.
At Multi Commodity Exchange, silver for delivery in December was trading lower by Rs 96 or 0.24 per cent to Rs 39,636 per kg in a business turnover of 1,805 lots.
The metal for delivery in far-month March next year also fell by Rs 72, or 0.18 per cent to trade at Rs 40,230 per kg in 38 lots.
In the international market, silver fell 0.30 per cent to USD 16.68 an ounce in Singapore today.
Traders attributed the fall in silver in futures trade largely to a weak trajectory in global markets strength helping dollar and heightened expectations that the US Federal Reserve will raise interest rates again this year.